much as I do? Are you also worried
about our future?
help our prosperity. For example, yearly we
invest millions in people, organizations and
programs -- such as Economic Develop-
ment Zones -- to attract new businesses
and assist existing ones. These have had
mencements all over our region to watch
more of our graduates collect their diplomas
and leave our region to pursue their dreams.
tors and sexy business plan competitions
that we hope will identify the next Steve
Jobs in WNY.
tive. It will be interesting to see how his
plan aids existing firms, already entrenched
and committed to Upstate New York.
arena. We need more. Statistically, our stu-
dents have a better chance of hitting the
lottery than being awarded the kind of ven-
ture capital needed to boost our economy.
porting our students who will be share-
holders of family-controlled firms.
family-controlled. Take Rochester, N.Y.,
for example, home to many highly re-
spected firms that have weathered and
thrived in all economic conditions.
off their em-
that's not as
and indirectly, they are the largest
source of philanthropy. With this
in mind, it would appear that
alongside venture capital and eco-
nomic development zone initia-
tives, Rochester could benefit from
a family business initiative.
tions measuring this have
found similar results.
work together and provide a syn-
ergy and optimism for our econ-
omy that is unparalleled.
our students identify and evaluate
their opportunities. Students tour
their firms -- sometimes literally
next door to each other such as
Abrasive Tool and Thru-way
Spring. Students meet the family
owners and hear stories they appre-
ciate and gain confidence knowing
they have a committed and talented
network available to them.
Paladino, '68, to tell their stories
and answer students' questions.
We have introduced interdiscipli-
nary courses and seminars on fam-
ily business such as "Family
"Internet Marketing to Grow Your
Family Business." Students have
internship opportunities at other
family firms. Students have created
a Family Business Club -- one of
about a dozen in the nation --
open to any student on campus.
"next generation" stakeholders, are
humble, young adults who rarely
share their situation with anyone
but close peers. Many have started
out working at the bottom of their
family enterprises and come to our
universities with a lifetime of busi-
ness experience that goes unno-
ticed. The decisions they need to
make about their future can be un-
nerving. They need our help.
biggest concern is to keep the busi-
ness growing. So much effort has
been put in by my father and uncle
that I want to help the company
become more successful and not
just plateau. I do not want to tar-
nish the good name that my dad
and uncle have created."
sors continue the good name their
families have created.
economic development and use it
to invest in those young men and
women on all of our campuses
who are working hard to gain the
networks, skills and confidence to
stay and grow the businesses their
families have created in Rochester.
ence at St. Bonaventure. This
column appeared in the Feb. 8,
2013, edition of Rochester Busi-
it's time for New York state to invest in them